Amgen Q4 Results Exceed Expectations, Cuts Tax Rate - AMGN

[Para 1: The Lead] Amgen, Inc. (AMGN) exceeded Wall Street expectations in its Q4 financial results, driven by a 7% increase in drug sales and a lower tax rate. The company's revenue of $9.9 billion surpassed the average analyst estimate of $9.5 billion, while adjusted earnings per share of $5.29 surpassed forecasts of $4.73. [Para 2-3: Supporting details & Context] For 2026, Amgen forecast adjusted earnings per share of $21.60 to $23.00, slightly below the Wall Street estimate of $22.09. Revenue is expected to grow to $37 billion to $38.4 billion, significantly above the $37.1 billion forecast. The company cited a 10% increase in product sales volume, offset by a 4% decline in net prices, resulting in a 7% quarter-over-quarter growth. Repatha sales surged 44% to $870 million, exceeding analyst estimates. Sales of Tepezza and Enbrel fell 1% and 48%, respectively, due to price adjustments and Medicare plan impacts. Amgen's tax rate was 7.8 percentage points lower than the previous quarter due to U.S. tax adjustments on foreign subsidiaries.